Brick Duplex with Full
New
For Sale
$265,000
212 S 3RD Street, Reading, PA 19602
Multi-Family, READING, PA
Property Size2,492 SF
Lot Size0.06 Acres
Price / SF$106.34
Days on Market2
Property Features for 212 S 3RD Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Subdivision
READING
Middle school
SOUTHWEST
High school
READING
Elementary school district
READING
Middle school district
READING
High school district
READING
Standard status
Active
Size
2,492 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
1043
Utilities
Heating system
Electric (Heating), Baseboard
Building Details
Year built
1900
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
BHHS Homesale Realty- Reading Berks · Berkshire Hathaway HomeServices
(610) 372-3200
Listed By:
Jonathan David Rodriguez · License #RS376334
(223) 379-0206
Added: Sep 2
Last Checked: Sep 3 at 8:06AM
MLS# PABK2077564
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This traditional brick duplex in Reading, Pennsylvania, contains 2,492 square feet and was built in 1900. The first unit has three bedrooms, while the second has two bedrooms. A full basement provides additional interior space, and electric baseboard heating serves the property. The building is situated on a 0.06-acre lot with on-street parking.
The property is located at 212 S 3RD Street in the 19602 ZIP code, within Berks County. A bus stop is less than one mile away, providing access to public transportation. The existing two-unit configuration and basement offer a defined residential income property format with room for renovation planning.
The property is located at 212 S 3RD Street in the 19602 ZIP code, within Berks County. A bus stop is less than one mile away, providing access to public transportation. The existing two-unit configuration and basement offer a defined residential income property format with room for renovation planning.
Key Highlights
- Duplex with 2,492 square feet and 2 residential units
- Unit mix includes 3 bedrooms in the first unit and 2 bedrooms in the second
- Traditional brick construction; built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,473
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$429,460
$429.5K
Cap Rate 7%
$306,757
$306.8K
Cap Rate 9%
$238,589
$238.6K
Market Conditions
NOI Build-Up for 2,492 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.7K $16.32/SF
− Vacancy
−$1.6K −$0.65/SF
EGI
$39.0K $15.67/SF
− OpEx
−$17.6K −$7.05/SF
NOI
$21.5K $8.62/SF
Area
Berks County, PA
Vacancy
4.00%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$429,460
Cap Rate 7%
$306,757
Cap Rate 9%
$238,589
Alternative Uses
Best Use
Multifamily LT 5
$351.0K
$307.1K – $409.5K
NOI $24,568 @ 7.0% cap · market cap 9.27%
Second Best
Apartment 5plus
$306.8K
$268.4K – $357.9K
NOI $21,473 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$409.1K
$358.0K – $477.3K
NOI $28,636 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,035
Businesses Nearby
Explore this area
Business Placement
Demographics for 19602, PA
19,782
Population
7,907
Households
2.5
Avg Household Size
32
Median Age
11%
College-Educated
71%
High-School Grad
2.0 sq mi
ZIP Area
9,891
Density / Sq Mi
$38,179
Median Household Income
$30,848
Median Earnings
$978
Median Rent
$73,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include three- and two-bedroom layouts with electric baseboard heating.
Where is this duplex located?
The property is located at 212 S 3RD Street Reading, PA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Duplex with 2,492 square feet and 2 residential units; Unit mix includes 3 bedrooms in the first unit and 2 bedrooms in the second; Traditional brick construction; built in 1900
